Gox Rising Announces Intent To Purchase Mt. Gox Creditor Claims

SAN JUAN, Puerto Rico, May 21, 2020 /PRNewswire-PRWeb/ — Gox Rising engages the international community of creditors of the Mt. Gox Estate…

SAN JUAN, Puerto Rico, May 21, 2020 /PRNewswire-PRWeb/ — Gox Rising engages the international community of creditors of the Mt. Gox Estate with an offer to purchase claims from those creditors that do not wish to wait for the final outcome of the ongoing civil litigation.

Mt. Gox filed for bankruptcy in 2014 after losing more than 850,000 BTC due to theft and mismanagement. (Case Number: Tokyo District Court 2014 (fu) no. 3830) 200,000 BTC was later found in an old-format wallet. In 2018 Japanese courts changed the case from bankruptcy to a civil rehabilitation case, meaning creditors could now receive the missing bitcoin rather than the cash equivalent – approximately $451 US per BTC – at the time of the exchange’s collapse.

Since that time, the progress of the case has been delayed several times and the outcome of the proceedings is still not resolved. The case could still be years from the final resolution. A trustee has been tasked with redistributing the remaining bitcoin, which has been delayed by a series of lawsuits brought against the Mt. Gox Estate.

“We recognize that some investors may not wish to wait any longer to see what the final resolution and payout will be and how much longer that payout will be delayed,” said a Gox Rising spokesperson. “Each claim will need to be individually reviewed, but we are looking to offer $800 US per BTC claim. Gox Rising will pay that in Bitcoin, or in the fiat currency of the Creditor’s choice. Our payment would be put in escrow and made within 10 business days of the claim transfer confirmation.”

They continued, “We have also been investigating potential avenues for bringing better liquidity options to claim holders and any interested parties should reach out. We look forward to conversations irrespective of claim size.”

If you are interested in liquidity options on your Mt. Gox claim, contact us at creditors(at)goxrising(dot)com.

About Gox Rising Limited: Gox Rising Limited is a corporation incorporated under the laws of the British Virgin Islands. Its mission is to support creditors of the Mt. Gox Estate in maximizing their recoveries.